Power Shift: Eskom faces threat from independent producers as sales decline
Independent power producers are eating into Eskom’s electricity sales, which are projected to fall 2% per year between now and 2027.
Independent power producers are eating into Eskom’s electricity sales, which are projected to fall 2% per year between now and 2027.
After drawing attention to the economic pain that will emanate from two ratings agency downgrades, Mboweni asked what should be done about SAA?
South Africa plunged deeper into junk territory after Moody’s joined Fitch Ratings in lowering the country’s credit ratings to a level worse than in 1994.
South Africa fell deeper into junk territory after Moody’s Investors Service joined Fitch Ratings in lowering the country’s credit ratings.
Credit ratings of SA’s five big banks were downgraded deeper into junk territory by Fitch, which cited a deteriorating operating environment amid Covid-19.
With so much power over countries’ fortunes, credit rating agencies have irked many developing countries and have also been accused of many faults.
Standard & Poor’s has maintained South Africa’s sub-investment grade, but there has not been further slippage into sub-investment territory, which would make borrowing even more expensive than it is.
The economy grew an annualized 3.1 percent in the fourth quarter from the previous three months compared with a revised 2.3 percent expansion in the prior quarter.
The much-awaited ANC National Conference has finally run its course – and darting between the dark shadow of Jacob Zuma and the light of a new dawn under Cyril Ramaphosa.
Downgrade despair set in when all three of the major global credit ratings agencies published their latest decisions for South Africa last week.